XML 48 R34.htm IDEA: XBRL DOCUMENT
v3.24.3

Income Taxes (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Income Tax Disclosure [Abstract] |
Summary of Reconciles Statutory Federal Income Tax Rate to Company's Effective Tax Rate | The effective tax rate for the three months ended September 30, 2024 was 10.8% compared to 24.9% for the three months ended September 30, 2023 period last year. The effective tax rate for the nine months ended September 30, 2024 was 31.5% compared to 25.0% for the nine months ended September 30, 2023. The difference in the Company’s effective tax rates for the periods below primarily reflect tax treatment of taxable gains and losses of the Separate Account UVE-01 which is domiciled in Bermuda and not subject to state income taxes. See "—Note 14 (Variable Interest Entities)” for more information regarding the Company’s VIE captive insurance arrangement. The provision for income taxes differed from the statutory rate as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Expected provision at federal statutory tax rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Increases (decrease) resulting from: |  |  |  |  |  |  |  |
State income tax, net of federal tax benefit |  | (7.0) | % |  | 9.5 | % |  | 5.9 | % |  | 1.5 | %
Disallowed compensation |  | (3.4) | % |  | (6.5) | % |  | 2.4 | % |  | 2.8 | %
Equity compensation shortfall |  | — | % |  | — | % |  | 2.0 | % |  | — | %
Nondeductible expenses |  | (0.3) | % |  | (0.1) | % |  | 0.5 | % |  | 0.3 | %
Dividend received deduction |  | 0.5 | % |  | 1.2 | % |  | (0.3) | % |  | (0.5) | %
Other, net |  | — | % |  | (0.2) | % |  | — | % |  | (0.1) | %
Total income tax expense (benefit) |  | 10.8 | % |  | 24.9 | % |  | 31.5 | % |  | 25.0 | %

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration